Pension, the wealth accumulated through our life's hard work, is not only the economic security of our old age, but also a beacon in our lives. It illuminates our future and allows us to live without worrying about the hardships of life in our old age. However, when we are faced with the instability of the economic situation and the continuous increase in prices, the importance of pensions is more prominent. In January 2024, the pension system may usher in a major change. This change is not only about our personal future, but also an important turning point in the development of society. The core of the change is that the calculation method of pension will be changed from the current "replacement rate" system to the "personal account + basic pension" system. This is a historic reform, and it is also a necessary reform. There are many problems with the old "replacement rate" system, such as unbalanced, unfair, unsustainable pensions, etc. The new "personal account + basic pension" system is to solve these problems and make pensions more fair, sustainable and inclusive.
For those who have already retired, there will be no change in the way and amount of their pension is received, and they will continue to enjoy the same pension treatment according to the original "replacement rate" system. For those who are about to retire, there will be adjustments to how and how much they receive their pension. They will receive a pension according to the new "personal account + basic pension" system.
The specific calculation method is: personal account pension = cumulative savings in personal account and the number of months that the individual is expected to receive;Basic pension = (individual contribution base + local average salary) 1% of the contribution period.
For future retirees, there will be greater changes in how and how much they receive their pension. Their pension will be received in full accordance with the new "personal account + basic pension" system. This means that their pension will be more linked to the individual's contributions, and the more they pay, the more they receive;Pay less, receive less. 
How can we respond and prepare for this major change?
First of all, we need to understand our own payment situation and conditions, according to our age, gender, payment base, payment period, etc., calculate our pension expectations, and make reasonable plans and arrangements.
Secondly, we must improve our awareness and level of contributions, under the new system, the individual contribution will directly affect the amount of pension. Therefore, we should try to increase our own payment base and payment period to ensure our pension level.
Finally, we need to expand our income** and investment channels, pensions are only part of our income after retirement, and we can also increase our income and wealth in other ways. For example, continue to work, start a business, manage money, invest, etc., to add more security and fun to your later life.
In short, the impact of this pension reform on each of us will be far-reaching. We need to understand the content and purpose of this reform, and actively respond to and prepare for it. Only in this way can we ensure that our old age is fully secured and enjoyable. At the same time, it also reflects the society's pursuit of fairness and sustainable development, and we should welcome this historic change with a positive attitude.